
Citi downgrades luxury winemaker Treasury Wine Estates' TWE.AX rating to "sell" from neutral
On Wednesday, Republic National Distributing Company (RNDC) said it was considering to divest operations in seven states
RNDC wholesales for TWE in at least five of them
"Not the news the company needed to start 2026" — Citi
RNDC is one of the largest U.S. wholesale beverage alcohol distributors, specializing in wine and spirits across multiple states
Brokerage says RNDC development has potential to "adversely" impact TWE's 2H26 earnings
Keeps price target at A$4.8 apiece
3 of 15 analysts rate the stock "buy" or higher and 12 "hold", their median PT is A$5.20 – LSEG data
TWE fell 53.8% in 2025